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Craig Brown to replace Claire Singleton as CEO of L&G Home Finance

  • 27/01/2022
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Craig Brown to replace Claire Singleton as CEO of L&G Home Finance
Legal & General said its chief executive, Claire Singleton, was stepping down from the role after 10 years with the company to take up the position of group general counsel at insurance firm Resolution Life.

Craig Brown, current director of intermediary for Legal and General Insurance, will take the helm at the end of February, working to bring home equity into the core asset pool considered by retirees, alongside their pensions and other savings.

Singleton will also step down from her role on the board of the Equity Release Council. Julie Godley will replace Brown as director of intermediary on an interim basis.

“I think there is a huge opportunity,” Brown said, “with the growing relevance of property to people’s long-term planning, to move later life lending into the mainstream – and I believe Legal and General can play a key role in leading this transition.”

Blending later life mortgages into mainstream retirement planning has been a priority for the company’s retail division, led by chief executive Bernie Hickman.

“Lifetime and retirement interest-only (RIO) mortgages can help meet a diverse range of challenges across customer demographics, from interest-only mortgage capital repayments to wealth planning,” Hickman said.

“Craig brings both an essential understanding of the intermediary landscape and broad commercial experience, making him ideally placed to grow our market share.”

Brown joined Legal and General in 2012 and most recently led the distribution of protection products via intermediaries. The company said he had established an award-winning team and strengthened many relationships across the intermediary channel of more than 19,000 firms. Before joining Legal and General, he held roles at Aviva and Lloyds Banking Group and has twice been named insurance business leader of the year.

Singleton became CEO at the end of 2019, after leading Legal and General’s Mature Savings business, which provided pensions, savings and investment products. The company said she first joined Legal and General in 2011 from the US law firm Jones Day. 

She said: “Whilst it is a bittersweet decision to move on, I couldn’t be more proud of everything we have achieved at Legal and General Home Finance. Today, the later life lending market is an exciting and growing sector, and it has been a real privilege to play a part in its evolution – from driving down rates to sub four per cent, to pushing for greater flexibility and choice for customers.

“I have no doubt that Craig will be an excellent fit for the Home Finance division – he brings a fantastic depth of experience and will lead the business to new successes in 2022 and beyond.”

In other changes, Legal and General said its Homes Finance division had appointed Andrew Gilbert as product director and Paula Hughes as head of business development.

Gilbert most recently worked in growth and innovation at Just and was an actuary.   

Hughes has rejoined Legal and General, having left in 2017 for stints with Nationwide as corporate development director, and at Key Group.




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